There are many challenges facing the media industry today, such as:
- Declining sales of newspapers
- Low circulation and advertising revenues
- Digital transformation challenges
- Increasingly fast past environment of social media
Just to name a few! The media industry in many countries has seen these issues develop over the last decade. However, one thing in particular that is key right now is how media companies can best connect with their customers and the audiences who consume their content so they can better understand how to get the right content delivered in the right format according to the customer’s preferences and lifestyle.
In order to make the most from these challenging times. Media companies need a business system that can go full circle, from social media analytics through to advertising and subscriber management, to back-end financial accounting and procurement. Today’s SAP solutions have evolved and can help media companies make the leap to a completely consumer-centric model.
SAP recently stated that “traditional media industries must innovate. Since the market is showing little growth, companies can help maintain margins by standardising core processes and improving service quality.”
In this short video interview for the Independent newspaper, Laura Coles Marketing Director at Invenio Business Solutions talks about how media companies need to embrace technology and how using SAP software can help them manage content monetisation, increase revenues and really stand out in an increasingly competitive market.
If this video has sparked some interest and you would like to know more about our services, contact us now